UpGate

Tag: Positive

  • Grok AI Forecasts Volatile Bitcoin End to 2026

    Grok AI Forecasts Volatile Bitcoin End to 2026

    Elon Musk’s Grok AI has forecast a period of significant consequence over the next three months, with projections suggesting Bitcoin could achieve a substantial 2x return by January 1, 2027.

    Market Outlook and Projections

    As of October 3, Bitcoin (BTC USD) is trading around $84,500. Grok AI anticipates that in a full-blown bull market scenario, Bitcoin’s price could surge to $180,000 in its most optimistic projection, with a base case estimate falling between $150,000 and $160,000.

    These predictions are partly supported by recent ETF flows. In the first two days of October, inflows exceeded $130 million, contributing to a total of $58 billion since the ETFs launched in November 2024.

    The broader cryptocurrency market capitalization currently stands at $2.98 trillion, marking a 2% decrease over the past 24 hours. However, total trading volume has seen an 8% increase from the previous day, reaching $117 billion.

    Recent Price Action and Technical Indicators

    In late 2025, Bitcoin experienced a significant downturn, breaking through support levels and falling from $120,000 to approximately $84,000. Early in 2026, the price saw a sharp decline to around $58,000.

    A recovery attempt in the spring pushed the price back to roughly $82,000, but this momentum faltered by June, leading to a drop back into the low $60,000s.

    More recently, a shallow base has formed, characterized by higher lows, though this has not been accompanied by strong upward momentum. The weekly closing price is trending towards the $84,000-$85,000 range, with the weekly price range extending from $82,500 to $87,000.

    Grok AI has identified key support levels at $81,000, followed by $79,500 and $77,600. Resistance levels are noted at $87,400, $89,000, and $90,000.

    The Relative Strength Index (RSI) is currently at 39.06, with the signal line closely trailing at 39.32. These indicators are nearly converged, separated by only a quarter of a point. This reading is significantly below the midline and approaching oversold territory. Despite the current weak momentum, the flattening RSI suggests that the downward trend may be losing steam.

    Emerging Trends and Opportunities

    A notable surge in Stacks (STX) activity validates the market’s interest in Bitcoin-native yield and infrastructure. However, following a run to $0.40, the immediate upside potential may be less attractive than when prices were below $0.35. A failed retest of these levels could quickly place breakout buyers under pressure.

    This market tension underscores traders’ interest in earlier-stage projects. While early entry carries higher execution and liquidity risks, historical precedent suggests these are often the environments where significant, life-changing gains are realized.

    Bitcoin Hyper (HYPER) is highlighted as a Bitcoin Layer 2 project that integrates the Solana Virtual Machine (SVM). It aims to offer fast smart contracts and high-speed, low-cost execution, addressing Bitcoin’s limitations in transaction speed, fees, and programmability while preserving its core security and trust. The project’s presale price is set at $0.013687, and it has raised $33,166,357.73 to date. Bitcoin Hyper also promotes live staking with a high Annual Percentage Yield (APY) and claims to feature a decentralized canonical bridge for Bitcoin transfers. For comprehensive evaluation, market conditions and price scenarios for Bitcoin remain crucial considerations for the broader ecosystem.

  • Bitwise CIO: Top 3 Altcoins for Tokenization Boom

    Bitwise CIO: Top 3 Altcoins for Tokenization Boom

    Tokenization’s True Value Lies in Infrastructure, Not Just Assets

    New York, NY – Investors seeking to profit from the burgeoning world of tokenization should look beyond tokenized stocks and exchange-traded funds (ETFs) and instead focus on the underlying networks that power this financial revolution, according to Matt Hougan, Chief Investment Officer at Bitwise. He identifies Ethereum, Solana, and Chainlink as prime candidates poised to benefit significantly.

    The Limitations of Tokenized Assets

    In a recent interview, Hougan acknowledged that tokenized assets offer some marginal advantages, such as 24/7 trading and enhanced borrowing capabilities. However, he emphasized that a tokenized Tesla share, for instance, remains fundamentally a Tesla share, with the majority of its returns derived from the company’s performance rather than the tokenization itself.

    “If you want to benefit from tokenization as an investor, you have to own the infrastructure that makes it happen,” Hougan stated.

    Key Altcoins for Tokenization Gains

    Hougan also advised investors to consider companies actively developing within the tokenization space, characterizing the trend as a “once-in-a-generation upgrade” to the global financial system.

    Chainlink’s Dominant Position

    He specifically highlighted Chainlink, estimating its market share for connecting blockchains to real-world data at an impressive 70% to 80%. As more real-world assets migrate onto the blockchain, Hougan predicts that nearly all of them will necessitate interaction with Chainlink’s services.

    He placed Chainlink’s current valuation between $6 billion and $7 billion, a figure he described as “relatively small” given its potential to underpin global markets for the next three to five decades.

    The interviewer pointed out that spot Chainlink ETFs, launched in December 2025, have not experienced a single week of net outflows, even amidst a challenging market sentiment. Hougan interpreted this as a clear indication that “investors get it.”

    Implications for Retail Investors

    Looking ahead, Hougan anticipates two significant transformations over the next decade. He also suggested that tokenization could emerge as the most impactful financial inclusion tool to date, providing individuals with mobile phones access to global investment opportunities.

  • Hassett: AI’s Economic Impact Underestimated

    Hassett: AI’s Economic Impact Underestimated

    White House Economic Adviser Sees AI as Key to Unseen Growth and Debt Reduction

    Kevin Hassett, the Director of the National Economic Council, believes that official economic statistics are failing to account for the full impact of artificial intelligence. He argues that AI’s economic benefits may be significantly larger than currently measured, suggesting that this “hidden productivity” could help the United States overcome its growing national debt.

    A Rosy Outlook Fueled by AI

    Speaking at the Economic Club of New York on September 28, 2026, Hassett presented an economic forecast that significantly outpaces most projections. His argument draws a parallel to the early days of the internet, a period when the economic advantages of improved computing power were not immediately reflected in government data.

    Hassett projected a baseline Gross Domestic Product (GDP) growth rate of approximately 4%, assuming no unforeseen external disruptions. This figure surpasses the administration’s own target of 3% and substantially exceeds private-sector forecasts, which generally hover around 2%.

    Evidence from AI Adopters

    Hassett’s case is built on the performance of companies that have integrated AI into their operations. He stated that these firms are experiencing notable increases in sales, employment, and wages when compared to their counterparts that have not adopted the technology.

    This observation directly addresses a prevalent public concern that AI will lead to widespread job losses. Hassett’s perspective reframes the narrative, suggesting that AI adopters are actually expanding their workforces and increasing compensation because the technology enhances individual worker productivity.

    Investment in AI Infrastructure

    Beyond productivity gains, Hassett highlighted the role of investment. Projections estimate that U.S. investment in AI-related sectors between 2025 and 2032 could reach $10.3 trillion, averaging 3.63% of GDP annually. He pointed to capital expenditures in areas such as data centers and semiconductors as crucial contributors to the administration’s fiscal objectives.

    Debt Concerns and Policy Levers

    Hassett’s optimistic outlook emerges against the backdrop of a national debt exceeding $40 trillion, with roughly $15 trillion held by external entities. The administration’s stated goal is to reduce the deficit-to-GDP ratio to 3% by the end of President Trump’s term, aligning with its target for sustainable GDP growth.

    Hassett identified two additional strategies to complement AI-driven growth. The first involves reducing the size of the federal workforce, which he believes can lead to significant budget savings. The second is the surge in private investment in AI infrastructure, which could boost economic output and, consequently, tax revenues.

    Acknowledging Uncertainties

    Hassett did acknowledge potential challenges. He conceded that unforeseen “force majeure” events could derail his forecasts. Furthermore, he noted ongoing headwinds, such as a slowing labor force growth rate, which lead most economists to predict more conservative growth trajectories than those favored by the White House.

    Consistent Messaging on AI

    Hassett’s message regarding AI has been consistent. He has repeatedly characterized the technology as a catalyst for job creation and long-term economic resilience, rather than a threat to employment. He has also indicated a preference for private-sector-led solutions over stringent regulation in managing AI-related risks.

    Implications for Investors and the Economy

    For investors, Hassett’s public linkage of the deficit outlook to AI investment signals continued policy support for data centers, semiconductors, and related infrastructure.

    The debate over productivity measurement presents a complex dynamic. While it is plausible that statistical data lags behind real economic gains, as evidenced by the internet era, the argument that AI’s benefits are real but not yet visible in current data is difficult to definitively refute in the short term.

    The strength of Hassett’s case hinges on whether AI-adopting firms continue to expand employment and raise wages. If these gains are instead primarily captured by profits while hiring stagnates, the political and fiscal challenges, particularly in conjunction with federal workforce reductions, will become more pronounced.

  • Hyperliquid Secures $15M USDC for HYPE Buybacks

    Hyperliquid Secures $15M USDC for HYPE Buybacks

    Hyperliquid to Fund Token Buybacks with Stablecoin Yield, Diversifying Revenue

    Hyperliquid is poised to begin funding buybacks of its native HYPE token using revenue streams entirely independent of trading volume. This marks a significant shift for the decentralized perpetuals exchange, introducing a new, less volatile source of capital for token support.

    First Yield Payment Nears Transfer

    The exchange’s Automated Yield Aggregation version 2 (AQAv2) framework is set to disburse its inaugural yield payment. Approximately $14.58 million in USDC is scheduled for transfer to the Hyperliquid Assistance Fund by October 3, 2026. This figure aligns closely with market expectations of around $15 million. For HYPE, whose buyback mechanism has historically relied solely on trading fees, this introduces a secondary, more stable revenue stream.

    AQAv2 Mechanism Explained

    Under the AQAv2 system, roughly 90% of the net yield generated from Hyperliquid’s USDC reserves will be directed to the Assistance Fund. This fund will then utilize the capital to purchase HYPE tokens on the open market for subsequent burning.

    Yield generation commenced on August 26, 2026, with the upcoming payment covering the initial accumulation period. The AQAv2 framework received approval from validators on June 12, 2026, securing 69.08% of the vote.

    Key Partners in Yield Generation

    The operational infrastructure for this new yield generation involves prominent entities in the stablecoin ecosystem. Coinbase is designated as the official USDC treasury deployer, while Circle manages the technical aspects of the deployment. This setup adheres to a 1:9 ratio for technical-to-treasury balance requirements.

    Current estimates place Hyperliquid’s USDC reserves between $5 billion and $6.7 billion. At an approximate 3% yield, this translates to a projected annual buyback funding of $135 million to $200 million solely from these reserves.

    Combined Buyback Capacity

    While approximately 99% of Hyperliquid’s trading fees are already channeled into the Assistance Fund, contributing an estimated $771 million in annual buyback capacity, the addition of USDC yield is expected to push the total annual buyback potential beyond $900 million.

    The Assistance Fund has historically acquired around 45 million HYPE tokens for approximately $1.1 billion at lower price points. Since HYPE’s launch in late 2024, cumulative token burns have reached hundreds of millions.

    Understanding Hyperliquid and Perpetuals

    Hyperliquid operates as a decentralized perpetuals exchange built on its own Layer 1 blockchain. Perpetual futures, or “perps,” are financial contracts that allow traders to maintain leveraged positions indefinitely without an expiration date.

    AQAv2’s Strategic Impact

    The AQAv2 framework introduces a subtle but significant change. Stablecoin deposits on exchanges often remain static, even during periods of reduced trading activity, as traders may keep collateral on the platform between active positions. The yield generated from these balances continues to accrue regardless of new trade initiations.

    The reliance on Coinbase and Circle as USDC deployment partners means that a portion of HYPE’s tokenomics is now linked to the operational stability and policies of these centralized firms.

    Validator Sentiment and Future Scrutiny

    The 69.08% validator approval indicates substantial support for the AQAv2 plan, though nearly a third of validators did not endorse it. Future adjustments to the yield distribution or buyback mechanisms are likely to face similar levels of scrutiny.

    The immediate focus will be on the actual transfer of the $14.58 million payment to the Assistance Fund. Once this transaction is completed, the market will gain its first tangible insight into the practical impact of this new revenue stream on HYPE’s buying pressure.

  • XRP Asia Launches at XRP Seoul 2026, Fuels Asian XRPL Expansion

    XRP Asia Launches at XRP Seoul 2026, Fuels Asian XRPL Expansion

    XRP Asia Launches to Drive Ledger Adoption Across the Region

    XRP Asia has officially launched as an independent entity, aiming to significantly expand the adoption of the XRP Ledger (XRPL) throughout the Asia Pacific. The new organization, unveiled at XRP Seoul 2026, intends to onboard more businesses, developers, and financial institutions onto the network.

    Leadership and Strategic Focus

    The initiative is spearheaded by Sabrina Tachdjian, who previously served as vice president at the Hedera Foundation. Tachdjian is scheduled to address the upcoming Korea Blockchain Week on October 3rd at the Grand Hyatt Seoul. Her presentation, titled “Special Announcement: What’s Coming Next for the XRP Ecosystem in Asia,” will likely detail the group’s strategic roadmap.

    XRP Asia’s strategy is built upon four pillars: technology, startup success, community engagement, and marketing. The organization plans to provide comprehensive support to developers through training programs, micro-grants, early-stage investments, and go-to-market assistance. Its scope extends beyond decentralized finance (DeFi) to encompass retail applications, AI-driven payment solutions, and diverse enterprise use cases beyond traditional financial services.

    Ecosystem Expansion and Infrastructure Integration

    The launch of XRP Asia coincides with two significant planned upgrades to the XRPL protocol: Batch and Permission Delegation, both slated for early October 2026.

    Ripple President Monica Long indicated at XRP Seoul 2026 that the company is focused on integrating the XRP Ledger with existing payment infrastructure. She revealed ongoing credit-related pilot programs with the goal of activation next year, which may involve utilizing pooled XRP as collateral to facilitate customer payments. This strategic move follows SBI Ripple Asia’s approval under Japan’s Payment Services Act as a Third-Party Prepaid Payment Instrument Issuer, enabling regulated prepaid token activities on the XRPL.

    Upcoming Protocol Upgrades

    The regional expansion is set to be complemented by two key protocol upgrades. The Permission Delegation Infrastructure update, scheduled for October 8th, will enable companies to delegate transaction signing capabilities without relinquishing control of their primary wallets. Following this, the Batch Amendment, planned for October 9th, will allow for the consolidation of multiple transactions into a single ledger entry, thereby enhancing speed and efficiency for high-volume operations. Both upgrades will require the support of over 80% of validators for activation.

  • Dormant Ethereum Movement: On-Chain Activity Suggests Wallet Reshuffling, Not Immediate Selling

    Dormant Ethereum Movement: On-Chain Activity Suggests Wallet Reshuffling, Not Immediate Selling

    A significant movement of dormant Ethereum (ETH) occurred on September 30, as indicated by a surge in the Age Consumed metric to approximately 580 million token-days. Despite this substantial on-chain activity, the supply of ETH on exchanges saw only a negligible increase, suggesting the movement did not translate into immediate selling pressure.

    According to data from Santiment Intelligence, the Age Consumed metric on September 30 was roughly nine times its average weekday level during September and marked the highest reading since June 2. This metric tracks the movement of coins based on their dormancy period. While a large transfer of older coins might typically signal an intent to sell, Santiment observed that the increase in ETH supply on exchanges was minimal, with only around 18,000 ETH added on September 30. This contrasts with June 2, when a similar spike in Age Consumed coincided with an increase of over 140,000 ETH on exchanges.

    Santiment suggests that this unusual activity may reflect wallet reshuffling rather than holders rushing to cash out. Further supporting this interpretation, exchange supply declined by approximately 21,000 ETH the day after the surge. This indicates that the movement was likely internal asset management rather than an immediate push to sell on the market.

    In a separate development, trader Merlijn The Trader highlighted a potential shift in the ETH/BTC pair. He argued that ETH has broken a long-running downtrend against Bitcoin, which has persisted for nearly ten years, potentially positioning ETH as a market “blue chip.” Analyst Altcoin Sherpa commented that Ethereum’s setup still appears “pretty solid,” suggesting market sentiment is not as bearish as some believe. However, both analysts acknowledge that ETH’s future performance remains heavily dependent on Bitcoin’s movements.

    Interestingly, sentiment around Ethereum recently dropped to its most bearish level since June 7. Santiment recorded only 0.89 bullish comments for every bearish one regarding Ethereum sentiment. Despite this bearish sentiment, the analysts noted that such occasions could have the opposite effect on the underlying asset.

    It remains impossible to determine the exact identity of those who moved the latest batch of dormant ETH. However, historical data and current exchange supply dynamics suggest that this significant on-chain event is more indicative of internal portfolio adjustments than an immediate threat of increased selling pressure.

    Why This Matters

    The materials describe a narrow update: Ethereum’s Age Consumed metric surged to approximately 580 million token-days on September 30, indicating a large movement of dormant ETH. It is impossible to determine who moved the latest batch of dormant ETH.

    Broader Context

    Source materials place the factual news in this context: OG Ethereum investors woke up a few days ago by completing the biggest move of long-dormant coins since early June.

  • BlackRock Bitcoin ETF Sees $195.6M Inflow, $1.57B Monthly Surge

    BlackRock Bitcoin ETF Sees $195.6M Inflow, $1.57B Monthly Surge

    BlackRock’s iShares Bitcoin Trust (IBIT) acquired $195.6 million worth of Bitcoin on Tuesday, according to on-chain data from Arkham. This purchase brings the fund’s total Bitcoin holdings over the past month to $1.57 billion.

    Flow data indicates that IBIT experienced net inflows of $195.57 million during the trading session, surpassing any other fund’s contribution that day.

    Collectively, the group of U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of $102.67 million for the day, a figure that fell short of IBIT’s individual intake. This suggests that while the overall category saw positive inflows, other ETFs experienced net outflows, effectively making them net sellers during that session.

    This positive performance marked a reversal from the previous trading day, when spot Bitcoin ETFs collectively saw outflows of approximately $149 million. IBIT’s substantial buying activity helped to turn the overall tally positive again.

    Looking at a broader 30-day perspective, the spot Bitcoin ETF category has attracted about $2.99 billion in net inflows, with IBIT consistently leading as the top recipient. BlackRock’s fund accounts for more than half of this monthly net inflow, with its $1.57 billion in purchases against the category’s $2.99 billion total.

    During the trading session in question, Bitcoin’s price traded above $86,000.

    How IBIT Drives Bitcoin Demand

    IBIT operates through authorized participants, which are large trading firms responsible for creating new ETF shares when investor demand increases and redeeming them when demand wanes.

    When investor demand for IBIT shares outstrips the available supply, new shares are created. To maintain a 1:1 backing of each share with actual Bitcoin, the fund must purchase the corresponding amount of the cryptocurrency. This direct link between ETF flows and Bitcoin purchases is why IBIT’s activity is closely monitored, as it translates brokerage account demand directly into buying pressure on the underlying asset.

    IBIT’s Dominance in the Spot Bitcoin ETF Market

    Launched in January 2024, following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin ETFs, IBIT has rapidly become the largest U.S. spot Bitcoin ETF by assets under management. Its assets under management (AUM) reached $109.34 billion following the latest reporting.

    IBIT charges a management fee of 0.25%. BlackRock’s extensive distribution network, which reaches financial advisors, wealth platforms, and institutions, provides a significant advantage over smaller issuers.

    The increasing demand for Bitcoin from institutional investors appears to be increasingly channeled through regulated products like IBIT, rather than through direct ownership of the digital currency.

    The shift in the ETF category from an outflow of approximately $149 million to an inflow of $102.67 million in consecutive sessions highlights a significant trend. The sustained buying activity of $1.57 billion by IBIT over the past month suggests a consistent trend rather than a short-term fluctuation.

    With $109.34 billion in AUM, IBIT has already established itself as the benchmark against which the performance of the broader spot Bitcoin ETF market is measured.

  • Hoskinson: Crypto Poised for Exponential Growth

    Hoskinson: Crypto Poised for Exponential Growth

    Crypto Enters Era of Rapid Technological Advancement, Says Cardano Founder

    Cardano founder Charles Hoskinson has declared that the cryptocurrency sector is on the cusp of a period of accelerated technological growth, drawing parallels between the evolution of blockchain and transformative advancements in nuclear technology, the internet, and artificial intelligence.

    Speaking at the United Nations, Hoskinson elaborated on the nature of exponential technologies, explaining that their development often appears gradual in its initial stages before experiencing a dramatic surge in impact. “Exponential technologies are counterintuitive in that very little does something, a little bit more does everything,” he stated.

    Hoskinson highlighted the internet as a prime example of an exponential technology, citing its profound impact on the speed of communication and information access. He recalled a time when communication was heavily constrained by physical distance, with some exchanges taking months. The internet, he noted, subsequently revolutionized this by enabling near-instantaneous global communication. “The internet comes around. It’s our next exponential technology, computing and the internet,” he remarked.

    He asserted that a similar paradigm shift is currently underway with artificial intelligence and blockchain technology.

    The Cardano founder also pointed to progress in artificial intelligence as another indicator of rapid technological evolution. He observed that AI models are becoming increasingly efficient, enabling more sophisticated systems to operate with reduced computational resources. This improvement in model efficiency, he suggested, signals a potential for advanced AI to become more broadly accessible, moving beyond the confines of large data centers. “Intelligence is basically becoming ubiquitous and universal,” Hoskinson commented.

    Furthermore, Hoskinson addressed the growing trend of representing traditional assets on-chain through blockchain technology. This process, known as tokenization, can be applied to assets such as equities, currencies, and real estate. Blockchain-based systems also offer the potential for faster transaction settlements compared to some existing traditional financial infrastructures.

    Data on tokenized equity, for instance, indicated a significant increase from approximately $600 million at the start of 2025 to around $3 billion. This growth coincides with financial institutions actively exploring blockchain-based settlement, tokenized assets, and digital forms of currency.

    Hoskinson cautioned that predicting the pace of a new technology’s growth based solely on its early progress can be misleading. He cited the example of renewable energy in Germany, where initial projections suggested it would contribute no more than 4% of the country’s electricity. By 2025, however, renewables were supplying 55.9%. His underlying point was that technologies can achieve far more rapid expansion than early estimates might suggest, particularly as adoption rates climb and efficiency gains are realized.

  • XRP Asia Launches to Foster XRP Ledger Adoption in Asia, Amidst Protocol Upgrades and Regulatory Milestones

    XRP Asia Launches to Foster XRP Ledger Adoption in Asia, Amidst Protocol Upgrades and Regulatory Milestones

    XRP Asia has officially launched with the stated mission to promote the growth and adoption of the XRP Ledger (XRPL) across Asia. The organization has scheduled a public event for October 3, 2026, in Seoul, South Korea, as part of its initial outreach efforts.

    Sabrina Tachdjian, who previously served as VP of Fintech & Payments at the Hedera Foundation, is leading XRP Asia as its President. The upcoming event in Seoul, titled “Special Announcement: What’s Coming Next for the XRP Ecosystem in Asia,” is set to take place during Korea Blockchain Week at the Grand Hyatt Seoul. Tachdjian is slated to co-present the event with Tatsuya Kohrogi from Ripple. The event is expected to feature participation from prominent South Korean financial institutions, including Woori Bank and Kakao Bank, with discussions anticipated to cover topics such as cross-border payments and tokenized deposits.

    In parallel with these initiatives, upcoming protocol upgrades for the XRP Ledger, named Batch and Permission Delegation, are planned for early October 2026. These upgrades are intended to enhance the capabilities of the XRPL.

    Further developments in the region include SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The company’s token issuance platform achieved a significant regulatory milestone when it was registered under Japan’s Fund Settlement Act on March 26, 2026. This registration provides an official framework for its operations. Following this regulatory approval, an announcement in early April 2026 reported the completion of the full platform’s development.

    According to the article, daily XRP trading volumes on leading South Korean exchanges, such as Upbit, have reportedly surpassed those on several major global platforms, indicating substantial regional interest. The launch of XRP Asia, the planned event with institutional participation, and the upcoming XRPL protocol upgrades collectively suggest a strengthening institutional narrative for XRP in Asia.

    However, uncertainties remain regarding the full scope of these developments. The specific details and implications of the Batch and Permission Delegation protocol upgrades for the XRP Ledger are not fully detailed. Additionally, the full scope of participation and the specific outcomes of the XRP Seoul event are yet to be determined. The extent to which XRP Asia’s efforts will directly lead to increased XRP Ledger adoption across Asia is also an area that may unfold over time.

    The registration of SBI Ripple Asia under Japan’s Fund Settlement Act, the source states, indicates that a compliant path exists for such operations in at least one major Asian market. Tachdjian’s transition from the Hedera Foundation to XRP Asia is noted as an illustration of the competitive landscape for institutional blockchain business in the region.

    Why This Matters

    The materials describe a narrow update: XRP Asia has launched with the goal of increasing XRP Ledger adoption in Asia. The specific details and implications of the Batch and Permission Delegation protocol upgrades for the XRP Ledger.

    Broader Context

    Source materials place the factual news in this context: Ripple already has a notable regional foothold through SBI Ripple Asia, a joint venture between SBI Holdings and Ripple.

  • SEC Greenlights Leveraged Bitcoin, Ether ETPs; Trading Delayed

    SEC Greenlights Leveraged Bitcoin, Ether ETPs; Trading Delayed

    SEC Greenlights Triple-Leveraged Crypto and Commodity ETPs

    The U.S. Securities and Exchange Commission (SEC) has approved a rule change paving the way for six new 3x leveraged exchange-traded products (ETPs) to be listed and traded, including those tied to Bitcoin and Ether. The decision, made on October 2, 2026, also covers similar leveraged products for gold, silver, crude oil, and natural gas.

    Volatility Shares Trust to Offer New Products

    The approved rule change, designated as Release No. 34-106577, pertains to six products structured as series within the Volatility Shares (VS) Trust, sponsored by Volatility Shares LLC. The cryptocurrency-focused offerings are the 3x Bitcoin ETF and the 3x Ether ETF, while the remaining four will track gold, silver, crude oil, and natural gas.

    Daily Performance Target and Futures-Based Exposure

    Each of these ETPs is designed to deliver three times the daily performance of its respective underlying asset. Crucially, this leverage resets daily, a detail that significantly impacts long-term performance. The funds will not directly hold physical assets like Bitcoin, Ether, or crude oil. Instead, they will gain exposure through futures contracts, which are agreements to buy or sell an asset at a predetermined price on a future date.

    Regulatory Timeline and Next Steps

    The regulatory process for these products moved with notable speed. Cboe BZX Exchange submitted the proposed rule change on August 10, 2026, with the SEC publishing its notice on August 14. The approval followed on October 2. The rule change specifically addresses limitations on leveraged commodity-based trust shares, the regulatory classification under which these products fall.

    However, SEC approval of the listing rule does not equate to an immediate launch. Trading can only commence once a separate Form S-1 registration statement, filed under the Securities Act of 1933, becomes effective. The SEC’s approval order did not provide a specific timeline for this next crucial step.

    Understanding the Risks of Daily Reset and Futures

    The daily reset of leverage is a critical factor for potential investors. Because the 3x target is applied on a day-by-day basis, cumulative results over weeks or months can diverge significantly from the performance of the underlying asset, especially in volatile or choppy markets. The compounding effect of daily gains and losses can erode capital, even if the asset’s price ends up roughly where it started over a longer period.

    The use of futures contracts introduces another layer of complexity. As these contracts have expiration dates, the funds will need to continuously “roll” them into new contracts. The costs associated with this rolling process can also negatively impact overall performance over time.

    A New Era for Leveraged ETPs in the U.S.

    This approval marks the first time the U.S. has sanctioned triple-leveraged ETPs linked to Bitcoin and Ether, alongside traditional commodities in a single regulatory action. While leveraged exposure of this nature is available in international markets, this decision opens the door for U.S. investors.

    The inclusion of Bitcoin and Ether in the same approval as gold and crude oil may also signal a shift in how the SEC categorizes digital commodities.

    The next significant development to monitor will be the effectiveness of the Form S-1 registration statement, which will serve as the official green light for trading to begin.